§ 40-20-117 — Notice of termination of dealer agreement; cure of deficiency; approval of dealer ownership transfer; death of dealer

Wyoming § 40-20-117

• Jurisdiction: Wyoming
• Title 40: Trade and Commerce
• Ch. 20: WYOMING FAIR PRACTICES OF EQUIPMENT MANUFACTURERS,

Text

(a) Except as otherwise provided in this section, a
supplier shall provide a dealer at least one hundred eighty
(180) days prior written notice of termination of a dealer
agreement. The notice shall state all reasons constituting good
cause for the termination and shall state the dealer has sixty
(60) days in which to cure any claimed deficiency. If the
deficiency is cured within sixty (60) days, the notice shall be
void. A supplier may not terminate a dealer agreement for the
reason set forth in W.S. 40-20-115(a)(viii) unless the supplier
gives the dealer notice of the action at least two (2) years
before the effective date of the action. If the dealer achieves
the supplier's requirements for reasonable standards or
performance objectives before the expiration of the two (2) year
notice period, the notice shall be void and the dealer agreement
shall continue in full force and effect. The notice and right
to cure provisions under this section shall not apply if the
reason for termination is for any reason set forth in W.S.
40-20-115(a)(i) through (vii).
(b) If a supplier has contractual authority to approve or
deny a request for a sale or transfer of a dealer's business or
an equity ownership interest, the supplier shall approve or deny
the request within sixty (60) days after receiving a written
request from the dealer. If the supplier has neither approved
nor denied the request within the sixty (60) day period, the
request shall be deemed approved. The dealer's request shall
include reasonable financial, personal background, character
references and work history information for the acquiring
persons. If a supplier denies a request made pursuant to this
subsection, the supplier shall provide the dealer with a written
notice of the denial that states the reasons for the denial. A
supplier may only deny a request based on the failure of the
proposed transferee to meet the reasonable requirements
consistently imposed by the supplier in determining approval of
the transfer or approval of a new dealer.
(c) If a dealer dies and the supplier has contractual
authority to approve or deny a request for a sale or transfer of
the dealer's business or his equity ownership interest, the
dealer's estate or other person with authority to transfer
assets of the dealer, shall have one hundred eighty (180) days
to submit to the supplier a written request for a sale or
transfer of the business or equity ownership interest. If the
request is timely submitted, the supplier shall approve or deny
the request in accordance with subsection (b) of this section.
Notwithstanding anything to the contrary contained in this
chapter, any attempt by the supplier to terminate the dealer or
the dealership as a result of the death of a dealer shall be
delayed until there has been compliance with the terms of this
subsection or the one hundred eighty (180) day period has
expired, as applicable.
(d) If a supplier and dealer have executed an agreement
concerning succession rights before the dealer's death and that
agreement has not been revoked or otherwise terminated by either
party, the agreement shall control the terms of succession even
if it designates someone other than the surviving spouse or
heirs of the decedent as the successor.
(e) The provisions of this section shall not apply to the
dealer agreements between a single line dealer and the single
line supplier.